30 October 2020: For the first time, Eskom CEO André de Ruyter and Tshifhiwa Bernard Magoro, Head of South Africa’s IPP Office will Co-Chair an intimate boardroom on 2 nd November during the Africa Energy Forum.

Programme Director of the Forum Shiddika Mohamed commented, “The pair have been in discussion for a number of weeks about the meeting, and have stressed how important it is to sit down together with investors to discuss how this relationship will work in the coming years.

The past months have seen a significant shift in relations between the two sector stakeholders, with Eskom coming out in full support of the regulators’ approval of the IPP Office’s 11.5GW Round Five procurement programme. This move came directly from the Eskom CEO who continues to address the challenges faced by the national utility with clear messaging.”

The boardroom on 2 nd November is an opportunity for both leaders to sit down with investors and discuss how the relationship will move forward.

This boardroom will be moderated by John Smelcer, Business Development Director at Globeleq, and is chaired by both the IPP Office Head and Eskom CEO, who welcome alongside them the leadership teams of both organisations.

Event: ESKOM & IPP Office Boardroom at the Africa Energy Forum

Time and Date: Monday 2nd November | 12:00 GMT

Please note: Due to the nature of this boardroom and to enable an inclusive dialogue, this session is limited in numbers

Attendee registration: https://bit.ly/3iblExl

Media Registration: https://bit.ly/3mzdYru

Media Enquiries: Amy Offord | This email address is being protected from spambots. You need JavaScript enabled to view it.

27 October 2020: Africa GreenCo Group, together with its Lusaka-based operating company GreenCo Power Services (together GreenCo), is delighted to announce the investment of USD 1.5m by Denmark’s Investment Fund for Developing Countries (IFU) and Private Infrastructure Development Group’s InfraCo Africa (InfraCo). This investment completes GreenCo’s operational establishment in Lusaka as an intermediary renewable energy buyer/supplier and power services provider and is a precursor to the 2021 capitalisation of our credit support for IPPs.

GreenCo’s transformative role is to mobilise significant private sector investment for renewable energy, to strengthen the national and Southern African Power Pool (SAPP) electricity markets, and to facilitate a shift away from the current single buyer model. The region has great renewable energy potential and is in urgent need for more energy generation to support economic recovery and provide clean and affordable energy to its citizens. GreenCo’s model offers key innovations in the architecture of the electricity market and achieves better value – with more electricity generation and improved security of supply – in partnership (rather than in competition) with established industry players. GreenCo and its investors are focused on supporting the Government of Zambia, as well as the governments of other countries in the SADC region, in the opening of their electricity markets. The company’s operations will contribute towards the implementation of the Government of Zambia’s vision for the electricity sector as set out in the National Energy Policy 2019 and subsequent new energy sector legal and regulatory framework. This represents an important step in scaling-up renewable energy investment to help mitigate climate change, improve security of supply, and increase efficiency in the power sector.

Zambian Minister of Energy, Honourable Matthew Nkhuwa states, “The operationalisation of GreenCo is a great example of national action, and indeed international cooperation, as we strive to deliver affordable energy for all. Notwithstanding the current global economic uncertainty due to the COVID-19 pandemic, it is important that we plan for the future, one where renewable energy helps drive sustainable social and economic growth in Zambia.”

Honourable Alexander Chiteme, Minister of National Development Planning, said, “Today, we need true paradigm shifts toward low-emission and climate-resilient sustainable development in order to reduce the negative impacts of climate change on sustainable development and growth of Zambia and the Southern African region.  We are delighted to be working with GreenCo and a number of Zambia’s key cooperating partners to ensure that new business models, innovation and systemic change is delivered on the ground and felt by those most in need. Through this model we can attract the significant amount of funding required to harness Zambia’s abundant renewable energy resources.”

CEO of IFU, Torben Huss said, “GreenCo is an innovative business model providing a solution that can reduce the financial risk when investing in renewable energy and consequently pave the way for more private investors, which are highly needed if Africa is to succeed in delivering affordable and green energy for all.”

Gilles Vaes, InfraCo Africa’s CEO, added that, “GreenCo’s initiative of intermediary power off taker and power trading company is highly innovative and will help the Zambian electricity sector prepare for the future, working together with ZESCO and other key sector stakeholders. The challenges of developing new renewable electricity production in Zambia are great and will require the combined efforts of initiatives such as GreenCo. We look forward to working with GreenCo in helping it to become operational”.

Managing Director of ZESCO, Victor Mundende said, “Innovative solutions such as GreenCo could play an important part in providing alternative offtaker participation in the Zambian ESI, to make new generation projects more easily bankable whilst encouraging the maturation of electricity markets to encourage electricity trade. We look forward to working with GreenCo to deliver a mutually beneficial business model.”

CEO of GreenCo, Ana Hajduka added, “We would like to take this opportunity to thank the Government of Zambia, our industry partners and particularly IDC, for their leadership role to date. Our sincere gratitude goes to ZESCO, the Department of Energy, ERB, OPPPI, the Zambian NDA/MNDP and EAZ, and the funders who have supported GreenCo to this point. Their continued support, plus the investments made by IFU and InfraCo Africa are invaluable for the future success of GreenCo. We commend our investors’ continued support of a partnership that delivers clean and affordable electricity to Zambia and, on expansion of GreenCo’s activities, to the region.”

GreenCo’s innovative business model was incubated with grant funding and strategic input from The Rockefeller Foundation, Convergence and the P4G. GreenCo also benefits from the support of SADC PPDF via the Development Bank of Southern Africa and USAID’s Power Africa, of which Africa GreenCo is a private sector partner. Additionally, in December 2018, the Board of Agence Française de Developpement (AFD) approved the provision of a guarantee by AFD to GreenCo. This follows the approval of a guarantee by the European Commission in June 2018 through the European Fund for Sustainable Development (EFSD) under the EU External Investment Plan.

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About IFU: IFU, the Danish Investment Fund for Developing Countries, is an independent government-owned fund offering advisory services and risk capital to companies doing business in developing countries and emerging markets. Investments are made on commercial terms with the aim of creating economic and social progress as well as supporting the Sustainable Development Goals. For more information please see: https://www.ifu.dk/en/about-ifu/.

About InfraCo Africa (PIDG): The Private Infrastructure Development Group (PIDG) is an innovative infrastructure development and finance organisation which encourages and mobilises private investment in pioneering infrastructure in the frontier markets of sub-Saharan Africa and south and south-east Asia to promote economic development and combat poverty. PIDG delivers its ambition in line with its values of opportunity, accountability, safety, integrity and impact. Since 2002, PIDG has supported 157 infrastructure projects to financial close and provided 209 million people with access to new or improved infrastructure. PIDG is funded by six governments (the UK, the Netherlands, Switzerland, Australia, Sweden, Germany) and the IFC. PIDG TA can provide technical assistance and capital grants to the PIDG Companies to meet a range of needs associated with an infrastructure project’s lifecycle. PIDG TA can also provide up-front viability gap funding grants to support PIDG projects that require concessional funding to make a project with strong development impact financeable. For more information please see: www.pidg.org.

InfraCo Africa is part of the Private Infrastructure Development Group (PIDG). InfraCo Africa seeks to alleviate poverty by mobilising private investment into high-quality infrastructure projects in sub-Saharan Africa’s poorest countries. It addresses the risks and costs of early-stage project development: funding teams of experienced developers and providing risk capital to those projects which need the financial commitment and leverage that InfraCo Africa can bring. InfraCo Africa is funded by the governments of the United Kingdom (through FCDO), the Netherlands (through DGIS) and Switzerland (through SECO). For more information please see: www.infracoafrica.com.

About GreenCo: Africa GreenCo Group via its operating entity GreenCo Power Services Limited acts as an intermediary offtaker and service provider, purchasing power from renewable IPPs and selling that electricity to utilities and private sector offtakers (i.e. commercial and industrial users) and markets of the SAPP. GreenCo will mitigate the risk of purchaser default through an ability to secure alternative buyers or through short-term trading on the SAPP electricity markets. Through its participation in competitive power markets, GreenCo will promote cross-border power transactions and a more dynamic and liquid short-term power market. Through its activities, GreenCo will increase the supply of, and demand for, finance for energy projects, and mobilise private sector capital more quickly towards critical and transformative capacity addition. For more information please see: https://africagreenco.com/.

19 October 2020: Early 2020, Triodos IM - through its Hivos-Triodos Fund - partnered with Switzerland-based AlphaMundi Group and anchored the USD 21 million AlphaJiri Fund. The fund targets SMEs in sustainable agriculture and renewable energy in East Africa and recently finalised its first equity investment in Amped Innovation.

Amped offers breakthrough affordable high-powered products for low-income, off-grid households across Sub-Saharan Africa. The company partners with distributors across seven countries in Sub-Saharan Africa, reaching over 60,000 low-income households. It supports productive use appliances, so that people can charge their phones, power their shops, preserve vegetables, or irrigate their crops.

Amped will use the investment to support the development of a new generation of highly efficient and affordable direct current appliances for low-income households, and to grow its sales, manufacturing, and engineering teams. This will further boost Amped’s growth as a B2B energy and appliance company and to deliver on its vision of energy access for all.

Dianah Irungu, Senior Associate at AlphaMundi: “We are thrilled to add Amped Innovation to the portfolio of AlphaJiri Fund. Backed by a highly skilled and innovative team, the company has made great strides in advancing access to energy for low-income households in Africa, by designing and building highly efficient and affordable products. We are confident that, with our support, the company will deliver on more pioneering products to allow consumers to move further up the energy ladder and ultimately improve their quality of life and reduce energy poverty.”

Karel Nierop, Fund Manager Hivos-Triodos Fund: ‘"Roughly 600 million people in Sub-Saharan Africa lack access to energy. Off-grid solutions are the best way to provide the majority of them with clean, affordable and reliable electricity. Amped is well-positioned to have a tremendous positive impact on energy access through its distribution model with local partners."

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About AlphaJiri Fund: AlphaJiri Fund provides debt, mezzanine debt and equity investments for SMEs, with an initial focus on East Africa. The fund is managed by AlphaMundi’s local team in Nairobi, Kenya. Triodos Investment Management provides support on governance and operations. Stiftung Abendrot, a Swiss sustainable pension fund, is also an anchor investor in the fund.

16 October 2020: Sunkofa Energy develops and operates solar mini-grids, aiming at giving access to energy to inhabitants in Africa living in off grid areas. Sunkofa Energy focuses on in-house operations, customer management, demand stimulation activities and training of local talents, targeting to provide people with the means to climb the energy ladder via innovative solutions related to electricity (refrigeration, milling, internet…).

Sunkofa Energy has successfully secured its first equity raise with Gaia Impact Fund. The funding will enable Sunkofa Energy to expand further in its core Sub Saharan African markets especially in Western & Southern Africa countries. This achievement will help the company expansion, targeting to provide access to electricity to more than 1 million Sub Saharan African people in the medium term. The demand for reliable, clean and affordable electricity in Sub Saharan Africa continues to grow, with over 600 million people lacking access to electricity, of which approximately 80% live in rural areas (according to the International Energy Agency).

The company has recently been awarded one of the biggest solar mini-grid projects in Western Africa by US development Financing Institution MCC (Millennium Challenge Corporation), aiming at deploying 40 solar mini-grids and providing electricity to more than 80,000 Beninese inhabitants. In other geographies, Sunkofa has an extensive project pipeline to be developed in the coming years.

“Sunkofa Energy is thrilled to be partnering with Gaia Impact Fund to bring Sub Saharan African rural population renewable energy. Our expertise and experience in rural electrification to deliver reliable and clean energy solutions focusing on productive uses combined with the knowledge and alignment with Gaia Impact Fund will help us become an enabler of economic and social growth in our operating countries ”, says Juan Garcia Montes, CEO and co-founder of Sunkofa Energy.

Hélène Demaegdt, President of Gaia Impact Fund, comments: “We are very happy to get involved in Sunkofa’s entrepreneurial adventure. We have been very impressed by the team's commitment in developing mini-grid projects and we are confident that they will pursue their objective to provide people with the means to climb the energy ladder via innovative solutions related to electricity. Undoubtedly a great alignment of values and purpose between us.”

“The Sunkofa team brings a unique skillset to the African mini-grid space”, says Guilhem Dupuy, Investment Director at Gaia Impact Fund. “Developing and operating mini-grids at scale will require extraordinary levels of precision in execution, but above all creativity and flexibility and we’re thrilled to support Sunkofa’s take on this challenge”.

Antoine Veyre, CFO and co-founder of Sunkofa Energy adds: “Throughout the investment process, the team at Gaia Impact Fund demonstrated the agility, creativity, and commitment Sunkofa Energy needs from its shareholders to navigate the unique challenges and opportunities that Africa offers. We are excited to begin this journey with Gaia Impact Fund.”

Finergreen acted as the exclusive financial advisor on this equity round and its Managing Partner Jean-Jacques Ngono explains: “We strongly believe in this very experienced team and the business model they have developed. We were honored to be involved in this first equity raise that will enable to extend their activities on the continent, along with a specialized core investor like Gaia Impact Fund.”

For this transaction, Asafo & Co. acted as the legal advisor to Sunkofa Energy and Numa Avocats to Gaia impact Fund.

Henri-Olivier Essienne, counsel at Asafo & Co. says: “The transaction confirms the relevance of pursuing, now more than ever, venture capital and private equity transactions in the renewable energy sector in Africa despite the covid crisis.”

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About Sunkofa Energy: Founded in 2018, Sunkofa Energy is a company created by an experienced team of professionals in the energy access sector with a cumulative experience of 20 years in projects in Sub-Saharan Africa. Sunkofa is taking a pioneering role in bringing new energy business models to energy access and applies its capacity to innovate and scale the mini-grid business in Africa. For more information please visit: www.sunkofa.energy.

About Gaia Impact Fund: Gaia Impact Fund is a French impact fund dedicated to energy access entrepreneurs. Gaia invests in startups and SMEs operating in Sub-Saharan Africa and South-East Asia, and active on various segments: solar kits, productive uses of electricity, mini-grids, commercial & industrial solar installations, cleantech. Gaia Impact Fund was created by a team of entrepreneurs specialized in renewable energy and social impact investing. Since 2017, Gaia has supported 10 innovative companies in emerging countries and is actively pursuing its investment strategy with strong social and environmental impact. For more information please visit: www.gaia-impactfund.com.

About Finergreen: Finergreen is an international financial advisory boutique specialized in the renewable energy sector (solar, wind, hydro, biomass and storage). Founded in 2013, the company has completed EUR 2,1 billion of transactions over more than 6 GW of assets. With a team of 50+ people based in Paris, Madrid, Budapest, Dubai, Singapore, Mexico, Abidjan and Nairobi, the company operates through 3 main segments: Project Finance, Mergers & Acquisitions, Strategic Advisory. For more information about Finergreen please visit: www.finergreen.com.

About Asafo: Asafo & Co. is an international law firm established to deliver a unique and integrated offering of world class legal services dedicated to Africa-related business. With a 150+ team of lawyers based in Abidjan, Casablanca, Johannesburg, London, Mombasa, Nairobi and Paris, the firm is involved in complex and far-reaching transactions, financings and dispute resolution matters in a broad range of sectors, including energy (conventional and renewable), infrastructure, natural resources (mining, oil and gas), telecommunications, as well as banking and financial services. Asafo & Co. regularly acts for governments, States, private investors, developers, commercial and development banks, development financial institutions and investment funds. For more information about Asafo & Co., please visit: www.asafoandco.com.

About Numa Avocats: Numa Avocats is an independent business law firm operating in Aix-en-Provence, Marseilles, Paris and Shanghai. Numa attorneys advise small-cap and mid-cap companies, international groups, entrepreneurs, managers and institutional entities in relation with complex and strategic transactions over all the aspects of business law, notably on M&A, private equity, financing, contracts, tax and employment matters. For more information about Numa Avocats, please visit: www.numaavocats.com.

14 October 2020: The Africa Energy Forum will host a special presentation on 21 st October at 9am (UK time) by EMROD CEO and Founder Greg Kushnir, demonstrating the world’s first ever long-range wireless transmission project, currently operating in New Zealand.

EMROD has developed the world’s first commercially viable long-range, high-power, wireless power transmission as an alternative to existing copper line technology.

Emrod’s technology works by utilising electromagnetic waves to safely and efficiently transmit energy wirelessly over vast distances.

“Being able to transmit high-power electricity without any cables is game-changing for the continent. It means barriers to energy-access are smashed and Africa could be fully electrified within ten years. This is the technology millions of people have been waiting for.” Simon Gosling, Managing Director, EnergyNet.

The company was founded by serial tech entrepreneur Greg Kushnir, who was determined to find a technology that can reduce power distribution costs, avoid outages and support renewable energy.

“We have an abundance of clean hydro, solar, and wind energy available around the world but there are costly challenges that come with delivering that energy using traditional methods, for example, offshore wind farms or the Cook Strait here in New Zealand requiring underwater cables which are expensive to install and maintain,” said Mr Kushnir.

“I wanted to come up with a solution to move all that clean energy around from where it’s abundant to where it’s needed in a cost-effective, eco-friendly way.”

Energy generation and storage methods have progressed tremendously over the last century but energy transmission has remained virtually unchanged since Edison, Siemens, and Westinghouse first introduced electric networks based on copper wires 150 years ago.”

By significantly reducing infrastructure costs, Emrod’s technology has the capacity to support remote communities such as in Africa and the Pacific Islands by providing access to cheap, sustainable energy to power schools, hospitals and economies.

“The data is compelling. We are talking about a potential 50 per cent increase in sustainable energy uptake, up to 85 per cent reduction in outages and up to 65 per cent reduction in electricity infrastructure costs due to the Emrod solution,” said Kushnir.

“Since announcing Emrod's technology we have had a high level of interest from energy distribution and engineering companies from across the globe. We are progressing with some exciting opportunities to improve energy access for remote communities in areas such as India, Africa and Island Nations, added Kushnir.

The company has achieved strong interest from electricity distributors with Powerco, New Zealand’s second-largest distributor deciding to invest in a proof of concept of the technology currently operational.

Kushnir commented; “The system we are currently building for Powerco will transmit a few kilowatts but we can use the exact same technology to transmit 100 times more power over much longer distances. Wireless systems using Emrod technology can transmit any amount of power current wired solutions transmit.”

More information about this session:

Event name: Africa Energy Forum 2020 (online)

Event dates: 20th October – 13th November 2020

Session date & time: 21st October, 09:00 (UK time/GMT)

Register: https://bit.ly/30YFJ4g

12 October 2020: Spacecom (Tel Aviv Stock Exchange: SCC), operator of the AMOS satellites fleet and Ignite Power, a Pan-African developer of vital infrastructure projects, are pleased to announce the signing of a Strategic Cooperation Agreement. Under the new agreement, the companies will collaborate to install e-Health connectivity solutions in remote clinics, which will provide local medical teams with immediate access to physicians around the world, as well as data analysis over the cloud. Using designed-for-solar medical devices and systems and satellite connectivity, all will be powered by cost-effective off-grid solar systems. With the support of global medical experts, doctors and paramedics in these rural areas will have the opportunity to expand their reach and knowledge to new treatments and procedures.

For billions of people in developing countries, access to the Internet and advanced digital services is still a distant dream. It is precisely the populations, who need it the most, that live without enjoying the tremendous benefits enabled by the information revolution, and the gap between developing and developed countries continues to grow. Together, Spacecom and Ignite are determined to make a change and create a new reality which provides digital equality.

The solution comprises of communication through Spacecom’s advanced AMOS-17, digital High Throughput Satellite and Ignite’s sustainable off-grid solar power solutions and diagnostic systems. The mutual solution enables an efficient infrastructure as the basis for digital communities and services to rural locations. It is set to create thousands of jobs while empowering an entire generation of students to new skills and remote learning capabilities, through e-Learning platforms.

AMOS-17 operates over Sub-Saharan Africa, providing C-Band HTS, Ka-Band and Ku-Band coverage, and enables the combination of broad regional beams and high throughput spot beams that maximize throughput and spectral efficiency. It is designed specifically to meet Africa’s fast-growing communication and digital transformation demands, though to-date, many remote communities were unable to enjoy these benefits due to lack of reliable power supply. Until today.

Ignite Power has extensive and efficient solar power operations across Africa and has already connected 1.5 M people in off-grid areas and over 10,000 villages, to power through affordable solar-home systems. All basic home system packages include USB chargers, long-lasting lithium battery, life-prolonging charger, rechargeable radio, and fixed lamps.

Dan Zajicek, SpaceCom’s CEO said today: "Providing internet connectivity to rural areas in Africa is a challenge that we address as a priority. Our partnership with Ignite Power is a huge step towards making a change on a Pan-African scale. Together, no place is too remote for us to tackle. It is an honor to be able to make a difference in people’s lives and it is priceless to see the level of appreciation to something that seems trivial to most. This is only the beginning, we have many plans ahead".

"The combination of off-grid solutions and advanced communication systems is almost inevitable, as it allows for an immediate, affordable and reliable solution to one of the most significant challenges in Africa today", says Yariv Cohen, Ignite’s CEO. "Access to the internet has a tangible potential for impact on a huge scale. We are happy to join forces with a global technology leader such as Spacecom; Together we will advance the realization of this potential, and lead Africa to a brighter, more inclusive future".

29 September 2020: Life is cool with Koolboks and PaygOps announcing a refreshing partnership to provide energy-efficient refrigerators built to generate continuous cooling in the absence of power. This innovative product combines advanced Paygo technologies and affordability to empower households and small businesses at the BoP!

“We’re thrilled to be working with the PaygOps team to expand the outreach of our products to customers that are very sensitive to upfront investments. It has been a highly positive experience so far and crucial to our mission to make refrigeration accessible to all.” Says Ayoola Dominic, CEO and Co-Founder, Koolboks.

Utilising the natural power of the sun and water, Koolboks has created a truly innovative product for the Sub-Saharan African market. This is the Koolhome solar refrigerator that provides continuous cooling for up to 4 days in the absence of power and sunlight and comes equipped with external LED bulbs for lighting at night and 2 USB ports to charge mobile phones. This is made possible through its innovative ice batteries. During the day, ice is stored in ice batteries through solar energy rather than lithium batteries and used at night when the sun is out. This solution reduces production costs by over 40% and increases energy efficiency.

To reduce the high upfront costs required to own solar refrigerators, the Koolhome solar freezers have integrated in it a PAYGO technology that enables customers to pay for the cooling service in small installments. This makes use of Solaris Offgrid’s OpenPAYGO token implementation which works by the generation of tokens. The users will input these tokens into the device (refrigerator) through the keypad to activate the refrigerator for a certain period of time.

Thanks to the OpenPAYGO Token, an open-source solution developed by Solaris Offgrid and The EnAccess Foundation, the Koolhome solar refrigerator is now Paygo-enabled, to offer more flexibility and affordability for customers at the last-mile, through easy payment instalments. In addition, distributors of Koolboks products will be able to integrate with any Paygo software such as PaygOps to efficiently manage their last-mile operations thanks to advanced lease financing, sales, after-sales and inventory management features.

“PaygOps is on a mission to provide greater access to essential services beyond SHS. Access to cold/freezing services is such an essential commodity to farmers, micro-entrepreneurs and households, making the services provided by Koolboks critical to so many. Through the means of Paygo technologies, such as Openpaygo Token and PaygOps, we are honoured to support Koolboks in its expansion” adds Thibault Lesueur, Co-founder and CMO at Solaris Offgrid.

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About Solaris Offgrid: Solaris Offgrid supports solar energy distributors to build strong customer traction and greater relations with investors through flexible and inclusive Paygo solutions, designed for last-mile operations. Adopting a bottom up approach in the design of its solutions and creating synergies with a strong network of partners to solve last-mile challenges, the company has already deployed Paygo solutions in nearly 20 countries through PaygOps, Solaris Offgrid in-house software solution built “In the Field, for the Field” and its product design services. Leading reference in the off-grid solar market, PaygOps, is engineered to deliver modular and interoperable solutions to address off-grid energy access challenges and distribution complexity.

About Koolboks: Koolboks is a tech startup based in France with an offshoot in Nigeria that seeks to democratise the way the world experiences cooling. It’s mission is to make refrigeration affordable and accessible to all, by providing solar powered cooling devices. Koolboks coolers, the first Koolboks product, have been sold in 70 stores globally, gaining widespread attention from publications such as GQ, Le Figaro, Forbes, BFM News, Journal Du Geek and Le Parisien. Looking to diversify and cater specifically to the Sub-Saharan African market, they have created the Koolhome. Koolboks aims to utilize its technology for the betterment of mankind and to provide increased access to clean energy.

9 September 2020: Pan-African energy leasing company, Solarise Africa, has landed a further $10m investment to drive Africa’s clean energy expansion. The Series B investment round welcomed French development finance institution, Proparco, alongside existing investors, EAV and EDFI ElectriFI.

“Solarise represents a compelling opportunity for Proparco in the off-grid sector. We are proud to support this innovative project as a first co-investment alongside a strong provider such as EAV. It should remarkably enable African SMEs to start their road towards greener energy through the provision of a decentralised renewable energy production solution,” said Johann Choux, Head of Equity Investments – Financial Institutions & VC, Proparco. 

On a continent where frequent outages greatly hamper productivity; Solarise Africa provides innovative financing solutions to industrial and commercial companies that limit the upfront investment and provide manageable instalment payments and short payback periods. This enables companies to optimise their cost base and productivity, reduce dependability on an unstable power grid and adopt clean energy systems.  

“Africa has been ready for clean energy expansion for the African SME sector, but financing has always been a significant hurdle. By addressing this critical value chain need we can help to fast-track green energy adoption,” said Jan-Albert Valk, CEO and co-founder of Solarise Africa.  

“We are proud to welcome Proparco as a new investor in Solarise and we are grateful for the support we have received by EAV as our anchor investor almost since our inception, and by the confidence our existing investors EAV and Electrifi have shown by this follow up investment,” continued Valk.  

The investment will be used to fund project deployments and further increase market share in current countries of operation and future expansions into Africa. Solarise Africa currently has operations across Kenya, South Africa and Rwanda where it has deployed several projects and continues to develop an extensive pipeline across the continent.  

“We are excited to continue to support the Solarise team as they grow their geographical footprint and impact across Africa. The team has continued to demonstrate their bankability with successful deployments within a short period, strategic market expansion, pipeline development and agility in handling the COVID-19 crisis,” said Paras Patel, Partner, Energy Access Ventures.  

“Solarise's innovative financing solution remains compelling for many commercial and industrial clients across Africa grappling with frequent outages and fluctuating costs that affect productivity.” 

“Since EDFI ElectriFi’s first investment, Solarise Africa has successfully rolled out its business plan - strengthening its team, commissioning its first project and expanding its pipeline through additional partnerships. Only one year later, we are delighted to back the company with additional investment. We believe Solarise is excellently positioned to realise its ambitious plans,” said Dominiek Deconinck, CIO at EDFI Management Company.

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About Solarise Africa: Solarise Africa is a pan-African energy leasing company. Through their smart financing solutions, they unlock possibilities and empower their partners to thrive and actively drive Africa’s progress. Solarise Africa works with a selected group of renewable energy solution companies and they collaborate very closely with their partners to provide a range of tailor-made financial solutions for their customers. They offer innovative leasing solutions that require minimal capital expenditure with short payback periods that companies save money.

About Proparco: Proparco has been supporting sustainable development for 40 years across Africa, Asia, Latin America and the Middle East. As the private sector financing arm of Agence Française de Développement (AFD), Proparco provides funding and support to companies and financial institutions and helps them control the impacts of their activity. In 2019, Proparco committed €2.5bn of financing, focused on key development sectors: infrastructure, especially renewable energies, agribusiness, financial institutions, healthcare, and education. Its interventions support private sector actors who contribute to the Sustainable Development Goals (SDGs) by creating jobs and decent incomes, providing essential goods and services, and who contribute to poverty reduction and the fight against climate change. Africa is Proparco's biggest region of intervention, with € 1.285m granted in 2019, representing 51% of its commitments.

About EAV: Energy Access Ventures is an investment firm in Africa. With over 40 years of combined investment experience in Africa, EAV is uniquely positioned to take advantage of the emerging smart, distributed, cost-effective infrastructure market segment. EAV has carved out a reputation as a hands-on investor that works closely with its portfolio companies to capture the significant opportunity in Africa. EAV’s first fund (“EAV I”) was raised in February 2015 and is €75,000,000 in size with 9 investment professionals. The fund is sponsored by the leading French multinational Schneider Electric and is managed by Aster Capital in Paris. Its investors are CDC Group (UK), managing funds for the UK Department for International Development, the European Investment Bank, the Fonds d'Investissement et de Soutien aux Entreprises en Afrique (FISEA) held by Agence Française de Développement (AFD) and managed by Proparco, the Fonds Français pour l'Environnement Mondial (FFEM), administered by AFD, Financierings-Maatschappij voor Ontwikkelingslanden/ the Netherlands Development Finance Company (FMO), and OPEC Fund for International Development (OFID) and Schneider Electric.

About EDFI ElectriFI: EDFI ElectriFI, the Electrification Financing Initiative, is an impact-first investment facility, investing in early stage private companies and projects that increase or improve access to and supply of sustainable energy in developing countries. EDFI ElectriFI, is managed by the EDFI Management Company, a company established by the 15 European Development Finance Institutions (DFIs).

3 September 2020: International solar developer Solarcentury gives 5% of net profit every year to SolarAid, a UK based international charity which exists to bring solar light and power to communities in Africa without access to electricity. This year, the donation has broken all previous records, and almost reached a million pounds. This news comes as SolarAid’s founder steps down after 14 years as chair, handing the baton for the next phase to a new chair.

Since 2006, SolarAid, through its social enterprise SunnyMoney, has distributed more than 2 million solar lights across the continent. Focussing on innovation and sustainability to reach the people furthest down on the energy access ladder, their work has measurably improved the lives of more than 10 million people.

John Keane, CEO of SolarAid, says “This donation allows us to aim for big positive impacts at a time of particular dire stress on rural populations in Africa. The clock is ticking and the need to support rural populations access light and electricity to fight poverty, has never been greater. In a post-Covid world we are also looking to expand to new areas, to help power healthcare. This donation will further maximise the impact of this work. The team is incredibly grateful to Solarcentury.”

At the same time, green entrepreneur Jeremy Leggett, founder of both Solarcentury and SolarAid, has decided to step down as chair of the charity, to be replaced by Mirjana Skrba, Chief Operating Officer of The Carbon Tracker Initiative. She will work with SolarAid to plan and execute a new strategy for SolarAid’s work in post-Covid Africa, built around the Solarcentury donation.

John Keane said, “This time of big positive change is being matched with healthy change in the board. Though we are sad to say adieu to our founder, as he moves on to focus on his new project, we are very excited to be working with Mirjana as new chair. Her track record at the Carbon Tracker Initiative brings hugely relevant skills and experience to help reach our mission.”

Jeremy Leggett said, “The Solarcentury donation gives SolarAid fresh opportunities, just at the time when they are most needed. This is a perfect time for fresh board leadership, and I know from working with Mirjana that I leave the governance in very safe hands. I am confident that she will partner with John as the standard-bearers for SolarAid to build a brighter future.”

Mirjana Skrba said, “I want to thank Jeremy and the SolarAid team wholeheartedly for the opportunity and the trust they have placed in me. We live in a time of dire and growing threats, but we are also in a time of unique opportunities for positive system change. I hope that in my time as chair I can help the SolarAid teams provide much needed support to vulnerable communities living without access to light and electricity across Africa.”

Sarah Butler-Sloss, chair of the Trustees of Ashden said, “It is thrilling to see Solarcentury and SolarAid, both past winners of Ashden Awards, doing so well, and linking commercial success in the developed world with generous funding of work in Africa that is helping achieve UN Sustainable Development Goal 7. This is the kind of green entrepreneurship we will need to see much more of if humankind is to defeat the climate crisis and rebuild sustainably after the Covid crisis. At Ashden, we congratulate Solarcentury and SolarAid on the exemplar they provide us. We wish Jeremy equal success in his new carbon-sink project, and are thrilled that someone of Mirjana’s skills and experience has taken up the SolarAid governance baton for the vital next phase.”

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About SolarAid: Established in 2006, SolarAid is a UK based, international charity that combats poverty and climate change. Through its social enterprise, SunnyMoney, they are distributing solar lights to people living without electricity in Zambia in Malawi.

About Solarcentury: Established in 1998, Solarcentury is a leading global solar power company that develops, constructs, owns and operates utility-scale solar and smart technology across Europe, Latin America and Africa.

Independent and headquartered in the UK, Solarcentury is known internationally for developing and building some of the largest utility-scale solar projects in the UK, the Netherlands, Spain, Kenya and Mexico, including pioneering projects such as the world’s first solar bridge at Blackfriars Station in Central London.

Solarcentury’s mission is to make a meaningful difference in the global fight against climate chaos by making solar power the dominant energy source worldwide. During Solarcentury’s 22-year history the business has helped solar power become mainstream, and our projects have generated 6 billion kWh of clean electricity, saving over 1.7 million tonnes of CO2 emissions.

2 September 2020: 

Amsterdam, the Netherlands

⁃ AMMP Technologies is scaling up its SaaS platform for real-time operations of distributed renewable and hybrid energy systems

⁃ The pace at which these energy systems are being rolled out is growing rapidly – especially in emerging markets with poor grid infrastructure, which are AMMP’s current focus

⁃ AMMP solves the problem of remote system operations, by providing energy service companies an intuitive real-time view of performance across their portfolios of distributed

assets

⁃ The company’s founding team previously worked together at E.ON Off Grid Solutions to successfully deploy and operate mini-grids across Africa

⁃ The seed round was led by Point Nine Capital (early investor in B2B SaaS companies such as Zendesk and Typeform), with participation from Africa-focused Raba Partnership and Musha Ventures

AMMP Technologies, the operations platform for decentralized renewable energy systems, has raised €1.15M in venture funding. AMMP supports the rapidly accelerating global shift from centralized generation based on fossil fuels, towards decentralized renewable energy. The company’s ambition is to be the software platform underpinning tomorrow’s energy infrastructure – secure, smart, and clean.

As energy infrastructure developers look to the future, deployment of the energy systems managed by AMMP is accelerating rapidly. The company’s current focus is on emerging markets, where each year over $60B is spent on diesel generation, according to the IFC – and where cheaper, cleaner renewables are rapidly replacing this legacy spend.

For instance as of today, only 10-20% of Nigerian households can rely on the grid, while the vast majority of the population still uses privately managed diesel generators. The rapid development and decrease in costs of PV/battery hybrid systems has led to the emergence of a new generation of energy service companies that install, monitor and operate these systems remotely. These can now offer much more reliable energy at prices on par with the centralized utilities.

AMMP works with some of the most advanced companies in this space, such as Daystar, Rensource, and PowerGen. The platform enables remote operations for nearly 1,000 renewable energy generation systems across 17 countries on four continents – from Colombia, through to Sierra Leone and Kenya, to Myanmar. AMMP supports a wide range of assets, from rural mini-grids with battery storage, to complex megawatt-scale PV-diesel hybrid plants, to telecoms towers.

As demand for AMMP’s services grows, the new capital will allow the company to expand its customer footprint while further developing its suite of solutions. In particular by adding further vendor integrations and partnerships, as well as launching a solution targeted at energy for telecoms infrastructure. AMMP’s solutions enable users to minimize system downtimes, proactively plan maintenance, and obtain reliable insights into system performance. Overall, the use of AMMP has been shown to reduce OPEX by 30%.

As Svet Bajlekov, co-founder and CEO puts it: "Our customers are already driving the renewable energy transition at an unprecedented pace. We are proud to work alongside them, providing them the digital tools to scale faster than ever. This is especially relevant in the face of the current economic headwinds, and indeed restrictions on physical movement. In turn, we are excited to be bringing on board the leading investors in the B2B SaaS space, and work with them to realize the potential scale of the opportunity ahead of us.”

AMMP’s senior team builds on a rich set of experiences in the sector. The founders began their work at E.ON Off-Grid Solutions, deploying and operating mini-grids for rural electrification acrossAfrica. Having experienced first-hand the challenges of running renewable energy systems in remote environments, they set to work on a technical solution to enable smarter operations. As AMMP’s reach grew, the potential of a high-quality SaaS solution to have a transformational effect on the market became apparent.

“Energy generation is increasingly relying on decentralized systems using renewables. Conversations with multiple emerging utility companies show the pace at which this is happening in developing countries and how important AMMP’s platform is for these to run their operations. We’ve been impressed by the team’s deep insight into the problem and are looking forward to joining them on their journey to become the backbone of the next generation of utility companies” says Louis Coppey, Principal at Point Nine.

George Rzepecki of The Raba Partnerhsip adds “At Raba, we seek out founders focused on solving large, foundational problems. So we felt an immediate alignment with the team at AMMP. African countries have the opportunity to reimagine their energy inputs and meet their significant and growing needs through renewables. We are excited to partner with the AMMP team and be part of building a software-powered operating system to advance renewable energy globally.”

AMMP Technologies: AMMP Technologies is an Amsterdam-based provider of digital solutions for energy service companies in emerging markets. The AMMP SaaS platform is a vendor-agnostic solution for remote monitoring and management of portfolios of renewable/hybrid energy systems. It enables data-driven operational excellence, leading to higher system uptimes an significant OPEX savings. Since AMMP’s founding in 2018, the company’s operational base has grown to nearly 1,000 systems worldwide. Prior to AMMP, the founding team worked together at E.ON Off Grid Solutions to successfully deploy and operate mini-grids across Sub-Saharan Africa.

Point Nine Capital: Point Nine Capital is a Berlin-based venture capital firm focused on early-stage internet investments. Since its founding in 2011, Point Nine has invested in SaaS startups such as Algolia, Automile, Contentful, and Typeform, as well as online marketplaces like Brainly, DocPlanner, and StarOfService. Before starting Point Nine, the firm’s founding partners, Pawel Chudzinski and Christoph Janz, were among the earliest backers of companies like Delivery Hero, Westwing and Zendesk. In June 2017, Point Nine announced the closing of a new €75M million fund, Point Nine Capital Fund IV.

The Raba Partnership: The Raba Partnership is a Cape Town based investment firm focused on early stage software and internet companies in Africa. Founded in 2019 and backed by successful tech founders and investors, Raba is helping to build the next generation of companies in emerging and fast-growing ecosystems.

Musha Ventures: Musha Ventures is a global seed stage investment fund. The fund was founded in 2011 by Aadil Mamujee, who is a Kenyan born operator and product executive. Musha Ventures has invested in 60+ companies in 10 countries, with a particular focus on Africa.

31 August 2020: Swedfund, the Swedish Development Finance Institution, commits USD 12m to the Solar Energy Transformation Fund managed by SunFunder. The investment will contribute to increased access to electricity, as well as the increased generation of renewable energy for exposed demographics in the least developed countries in the world according to the OECD DAC list. The investment is in line with Swedfund’s Energy & Climate sector goals of investing in the off-grid sector for solar energy, particularly in Sub-Saharan Africa, where more than half of the total population lacks access to electricity.

The investment gives Swedfund the opportunity to support the off-grid sector in sub-Saharan Africa and in Asia, by a debt commitment to the Solar Energy Transformation Fund, managed by Nairobi-based sector specialist SunFunder Inc. Swedfund’s capital will be used to provide loans to corporate borrowers active in the off-grid solar space – primarily in Sub-Saharan Africa. The investment will support increased access to electricity as well as increased generation of renewable energy.

- This investment gives us, as a Development Finance Institution, the possibility to contribute to climate change mitigation and improved standards of living due to access to affordable and reliable electricity. It’s also important for us to provide capital to a fund with an outspoken strategy to invest their way through the COVID-19 pandemic at a point in time where the general interest for investments in developing countries is expected to decrease, says Swedfund’s CEO Maria Håkansson.

Swedfund will also contribute by improving the environmental, social and governance processes of the fund in relation to its borrowers.

SunFunder was founded in 2012 and has since grown from a crowdfunding platform to a manager of structured debt funds, all of which have been aimed at financing the off-grid sector for solar energy, primarily in Sub-Saharan Africa. To date, SunFunder (through its various funding platforms) has provided over $100m in debt financing to more than 50 off-grid solar companies, impacting over 7 million people with improved access to energy and mitigating over 700,000 tons of CO2 equivalent emissions annually.

31 August 2020: While the corona virus is raging in Germany and around the world, the engineers from Enteria are building the first solar well of their Mati-Mati pilot project in Pembane, Mozambique. Marc-Oliver Bruckhaus, the chief engineer and founder of the company, travelled to Mozambique shortly before the shutdown. 

“Building in Africa is always a bit adventurous,” says the Wuppertal-born engineer, “but with Corona it was really much more extreme. It was simply not at all clear what we were allowed to do and what not, who would come to work and who wouldn’t, which delivery would arrive and which would not,” says the graduate industrial engineer. In the end everything went well and the plant was even completed on time.

Dirty water holes are now a thing of the past in Pembane. The fountain raises solar-powered clean fresh water into a 10-meter high reservoir and distributes it from there over a radius of 1.5 kilometers via a water network to the village, to eight easily accessible kiosks, the Fontenarias.

“Mati Mati” in Guitonga, one of the traditional national languages of Mozambique, means “water water” and expresses the spontaneous joy that people feel when they suddenly find clean water. The joy about the well is now visible as the whole village proudly carries the chic “water credit cards” on their lapels instead of in their pockets.

Football is played everywhere in Africa. This is why dena-consultant Carlos Eid has been advocating that there should also be a “Fontenaria” at the entrance to the football field of 1st FC Estrela. Thanks to such considerations, in conjunction with the local authorities and those in positions of responsibility, the integration of the facility, with its colourful towers and standpipes, into the everyday lives of the residents was an immediate success.

Due to the increasing drought in Africa, the inhabitants are already affected by the consequences of climate change. The operators of Enteria and their impact investors are using their know-how and capital to work with the people of Mozambique to enforce the right to clean water. 

They are building modern solar wells, which are  economically linked to solar power production in Germany via an Internet cloud. So if one kilowatt hour of solar electricity is produced in Germany, one litre of clean solar water can be promoted and distributed very low priced in Africa. As with a “water-ATM”, comparable to a money-ATM, the villagers can withdraw fresh water for their daily consumption at the eight kiosks.

To this end, the Wuppertal-based company is currently setting up an IT backbone together with the IT specialists at ISAtech Water GmbH, in which all booking and production processes of the connected systems can be transparently displayed. It is important to the project participants that the smart water network is perceived by the residents as a common good of the village. A central idea of the Mati Mati concept is that all revenues from the facilities remain in the respective village and are used there for the construction and maintenance of the infrastructure. The IT portal creates the necessary transparency to gain the trust of the users.

The aim of Enteria is a supra-regional community of values for climate justice, in which industrial energy customers in Germany are connected with local village communities in Africa. Together they take responsibility for ensuring that we can hand over a planet worth living on to our children. The transfer of know-how in all directions plays a key role here. What concrete effects does climate change already have today? How can we deal with it in concretely? How can it be prevented or mitigated in the long term? How can we help each other? The answers to these questions are essential for all people to survive in times of climate change. 

Enteria has entered into know-how partnerships with the pump manufacturer Wilo and ISAtech Water GmbH in order to put the project on a long-term solid economic and technological basis. They are supported by the funding experts of the German Energy Agency (dena), who see Mati Mati as a successful example of the energy turnaround.

The solar well in Pembane with its taps, the eight “Fontenarios”, was completed in July 2020 and immediately handed over to the village community. Since then it has been in full operation and is used intensively.

27 August 2020: With less than 10 years to meet Sustainable Development Goal 7 (SDG7), and with increasing urgency for the world to get on track to meet the Paris Agreement climate goals, Sustainable Energy for All (SEforALL) has released a new three-year business plan to help drive faster and scaled up action towards sustainable energy for development and energy transitions.  

2020 marks the beginning of a final ‘decade of action’ to achieve SDG7 — access to affordable, reliable, sustainable and modern energy for all. Yet the latest data shows that we are off track to meet these targets, and the global pandemic risks derailing progress even further.

Despite some progress in recent years, 789 million people still lack access to electricity today. A further 2.8 billion people – a third of the world’s population - have no access to clean cooking fuels and technologies, with numbers barely moving over the last decade. Further, despite the huge economic and environmental opportunity of energy efficiency and renewable energy, there has only been incremental progress over the last few years.  

With ambitious action we can still achieve SDG7 by 2030 but the next few years are critical to increase energy access and deliver an energy transition that is truly inclusive, equitable and leaves no one behind – especially in the wake of the COVID-19 pandemic. With SEforALL’s unique mandate from the United Nations to drive action on SDG7, in full alignment with the Paris Agreement, the new business plan released today underscores why the organization’s global leadership is pivotal to meet this vision, and demonstrates a commitment to develop, implement and sustain solutions to achieve universal energy access by 2030.  

The launch of the new business plan follows the implementation of a new strategy for SEforALL introduced by Damilola Ogunbiyi, CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All and Co-Chair of UN-Energy, who took over the reins at SEforALL at the start of 2020. Speaking on the release of the business plan, she said: “As we embark on the final decade for achieving SDG7, we must expand beyond advocacy to action. We call on other organizations to do the same.  

“The COVID-19 pandemic has brought unparalleled economic, political and social challenges. The crisis has also clearly shown that energy access saves lives. We now have an opportunity to not only recover better by investing in sustainable energy to help advance energy access, but also support progress on the other SDGs and the Paris Agreement while building a more resilient, inclusive global economy. This ambitious three-year plan is our commitment to help deliver sustainable energy for all by 2030.”  

Under the new business plan, SEforALL has strategically chosen to strengthen global agenda-setting while expanding its activities to an engagement model that prioritizes data-driven decision-making, partnerships with high-impact countries and implementation on the ground.  

SEforALL will focus on driving impact in key areas, including:

• Securing and tracking new commitments from countries and companies through ‘energy compacts’ to meet SDG7 and energy transitions;
• Accelerating the adoption of best-in-class integrated energy plans and policy and regulatory frameworks to guide efforts and drive investment in the sustainable energy sector;
• Ensuring that scaled-up and appropriate finance is flowing towards sustainable energy and energy access, including continuing to track and report on finance flows annually through the Energizing Finance research series;
• Supporting a significant increase in the pace of new energy connections, including implementing a new results-based financing facility in partnership with donors, and supporting sustainable energy for healthcare facilities;
• Mainstreaming inclusive and gender-sensitive action on energy, including supporting more women entering and advancing in the sustainable energy sector.  

At the start of this final and decisive decade to achieve access to affordable, reliable, sustainable and modern energy for all, this new strategy and business plan positions SEforALL to be at the centre of a renewed global compact that recommits countries and companies to the actions necessary to achieve SDG7 by 2030. Advancing energy access will also advance progress on all the Sustainable Development Goals and the Paris Agreement commitments and help to build a more resilient, inclusive global economy post-COVID-19.

25 August 2020: Bboxx, a next generation utility that manufactures, distributes and finances decentralised solar powered systems in developing countries, has launched the bPower20 product, to make solar energy more accessible at scale.

Designed for customers who are at the beginning of the energy ladder, the new bPower20 product has been created to power rural households and micro-businesses. Bboxx’s research identified a gap in the market to better serve the significant proportion of the population in the developing world with lower energy requirements, but who still demand a superior customer experience and the provision of reliable, high quality electricity. The product will be rolled out initially in key markets Rwanda, Kenya, the Democratic Republic of Congo and Togo, with further markets lined up for 2021.

The bPower20 is a high-performance energy solution, designed for a great customer experience at a low lifetime cost. The affordable product comes with a 20W solar panel and daily usage of up to 51 Wh (watt hours). The new lithium battery technology has higher energy density with the capability to store more energy. It is optimised to last longer, increasing the service life up to six years.

It has an interactive screen enabling customers to communicate seamlessly with Bboxx’s teams through Bboxx Pulse® – Bboxx’s comprehensive management platform. Leveraging IoT (Internet of Things) technology, this ensures efficient remote management and monitoring of globally distributed Solar Home Systems (SHSs). As with Bboxx’s other SHSs, the bPower20 is available on a pay-as-you-go basis via mobile money. The launch also showcases new eco-friendly packaging, made from recycled paper and widely recyclable.

This latest affordable product will help Bboxx sustainably reach a wider segment of the global market, where demand for essential energy has been strong throughout the global pandemic. The benefits of clean energy go beyond energy itself as shown by Bboxx contributing to UN Sustainable Development Goal (SDG) 7 – affordable and clean energy for all – but also 10 other UN SDGs. Notably, the company’s SHSs have supported over 87,000 people to undertake more economic activities, positively impacted over 337,000 school-aged children, and off-set more than 460,000 metric tons of CO2e.

2020 marks a milestone year for Bboxx as it celebrates its 10th year in business, having transformed over one million lives through access to energy. The company also recently announced the launch of its new global brand as it invests in the next phase of its growth journey, and Bboxx’s new brand is integrated into the bPower20 product.

Christopher Baker-Brian, Co-Founder and MD of Product Division at Bboxx, commented: “At Bboxx we have always been driven by our mission to end energy poverty globally. Using a decade of experience and learning, we have now developed an even more affordable, reliable, sustainable, and higher performing product. The launch of the bPower20 will play a vital role in helping to achieve this mission by improving the lives of millions of customers in the future.

“Thanks to the hard work of our teams around the world, this latest development will enhance the operations of our retail businesses globally and will help us reach our ambitious goals, as we embark on the next phase of our growth trajectory. As we continue to transform lives and unlock potential through access to energy, our technology will make an important contribution in the green economic recovery as we seek to build back better and help meet the UN Sustainable Development Goals.”

Bboxx is a trusted partner for its customers and is using energy as the entry point to provide additional services that improve the quality of life for customers. In July, Bboxx entered a first of a kind partnership with CANAL+, the leading international pay-TV company, to expand access to CANAL+ TV content through Bboxx’s SHS.

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About Bboxx: Bboxx is a next generation utility, transforming lives and unlocking potential through access to energy. Bboxx manufactures, distributes and finances decentralised solar powered systems in developing countries. It is scaling through forging strategic partnerships and its innovative technology Bboxx Pulse®, a comprehensive management platform using IoT technology. Through affordable, reliable, and clean utility provision, Bboxx is bringing people into the digital economy, creating new markets, and enabling economic development in off-grid communities and those living without a reliable grid connection. The company is positively impacting the lives of more than one million people with its products and services in over 35 markets, directly contributing to 11 of the 17 United Nations Sustainable Development Goals.

So far, Bboxx has deployed more than 350,000 solar home systems. Bboxx has over 800 staff across nine offices including in Democratic Republic of Congo, Kenya, Rwanda, and Togo, with its head office in the UK and its manufacturing operations in China. In 2019, Bboxx was the winner of the Zayed Sustainability Prize in the Energy category – testament to the way the company is making a meaningful difference to people’s lives around the world.

13 August 2020: Adwoa Adezawa lives on the Cape Coast of Ghana near the Elmina fishing port on the Atlantic coast. Her husband is a fisherman, and each day he must travel farther to find fish. However, the most difficult part of their life as a family, she said, has been the complete absence of electricity. Until recently, her entire community lived without power. 

With a strong push for solar energy from the World Bank and the International Finance Corporation, life for thousands of Ghanaians is beginning to change. The $220 million Ghana Energy and Development Access Project (GEDAP) is among the first Bank-financed programs to focus on inclusive access to renewable energy through off-grid solar services and products. 

GEDAP is also emblematic of a larger push for inclusivity—the project included five pilot mini-grids that converted solar energy to electricity for isolated communities in islands in the Volta Lake and the Volta River. These five pilot mini grids provide 24/7 electricity to about 10,000 beneficiaries for the first time, allowing these fishing communities to use electricity to improve their livelihoods. 

“Solar technology and renewable energy are at the heart of the climate agenda,” said World Bank Senior Energy Specialist David Vilar, who leads the infrastructure programs in Ghana, Liberia, and Sierra Leone. “Solar energy is renewable and carbon-free; it has unquantifiable potential to decrease greenhouse gas emissions. Mini grids have the potential to play a significant role in efforts to achieve universal energy access.”

Poor households were able to afford mini grids because the project included subsidies to help make energy more affordable and supported access to financing with local financiers, including rural banks. The International Development Association (IDA) is providing technical assistance to help make more mini grids financially sustainable for homes and communities with the support in regulation from the Ministry of Energy, Energy Commission and the Public Utility Regulatory Commission. 

GEDAP has taken additional measures to ensure that the legal and regulatory framework was established for a nascent renewable energy sector. The enactment of the Renewable Energy Law supported the activities of the Bank and other donors in this sector. The project also supports regional policy makers as they address ongoing barriers to a regional market for stand-alone solar systems. These steps are essential to reduce energy poverty in the region and develop scalable solutions.

The Transformative Power of Mini grids for Community Life

Between 2014 and 2018, the Bank provided more than $11.5 billion in financing for renewable energy and energy efficiency. A comprehensive approach to scaling up access to electricity is critical. Mini-grid systems, where several homes are connected (often with pay as you go systems) are emerging as a key player for cost-effective and reliable electrification of rural areas. The Bank is currently one of the largest financiers in this sector, supporting about 25% of mini grid investments in the developing world. 

As the Ghana pilot program demonstrates, access to technology, systems, and products is key. From the outset, GEDAP considered different technologies that were sustainable and affordable, including hydroelectric and wind technologies, but identified solar as the best option. Solar energy panels are relatively simple, making the transformation both affordable and resilient. 

The pilot program in the Volta Lake and Volta River also introduced prepaid meters and pay-as-you-go systems for low-income customers. The project was commissioned in November 2017 by the Ministry of Energy, and since then, the communities have use off-grid solar electricity with public illumination for parks and recreation, small businesses, and lighting for schools. 

The Bank’s initiatives began with solar mapping atlas projects to assess general energy needs and has continued with projects that increased electricity access to households, businesses, schools and clinics through stand-alone, off-grid solar systems. 

Scaling Up Clean Electricity for a Low Carbon Future

Africa is engaged in an exciting energy transformation, country by country, across the continent. Since the Ghana project began, Bank-supported solar projects and programs have been launched in West Africa and the Sahel Region, including Benin, Burkina Faso, Cabo Verde, Cameroon, Central African Republic, Chad, Cote d’Ivoire, The Gambia, Guinea, Guinea-Bissau, Liberia Mali, Mauritania, Niger, Nigeria, Senegal Sierra Leone and Togo, among other countries. 

The Lighting Africa program, which includes GEDAP, contributes to the World Bank Group’s Sustainable Energy for All, which has a mandate to bring energy to the planet by 2030. 

Through the Lighting Africa program, 32 million Africans gained access to energy, often through off-grid products that charge with batteries at home. 

Still, there is a monumental mission ahead—more than half a billion Africans in Sub-Saharan Africa live without any electricity at all. The World Bank and partners are responding to a need both great and urgent. Lighting up Africa through solar energy is a pillar of the World Bank’s Africa Climate Business Plan (ACBP), with ambitious programs across the continent scaling up every year. 

13 August 2020: Today (13 August), the Africa Minigrid Developers Association (AMDA), a regional trade group representing distributed generation developers and operators, released its flagship Benchmarking Africa’s Minigrids report, which for the first time measures industry performance through a comprehensive collection of data across 12 countries and 28 companies, encompassing market leaders and newcomers. The report confirmed the essential role of minigrids in ensuring delivery of affordable, clean and reliable electricity to all Africans, and spotlighted both barriers to accelerated growth and ways to overcome them.

The report, produced in collaboration with Economic Consulting Associates (ECA) and Odyssey Energy Solutions, covers a 10-year period and focuses on important metrics such as installed and operating costs, financing, quality of service and regulatory approval times. It provides a previously absent methodology and transparency to track the fast-evolving minigrid sector.

Key Findings and Recommendations include:

• Minigrids outperform utilities in affordability: with average installed costs of $733 per connection, minigrids are significantly less expensive in rural areas than national utilities, which at the lowest are $1,500 per connection, but are often thousands of dollars more costly. This means minigrids save governments money that could be used to support communities in other ways, or to lower the minigrid kilowatt hour price for minigrid consumers. Recommendation: mainstream support for minigrids in national energy policies and budgets.
• Installed costs have dropped more than 60% since 2015: the minigrid sector is quickly maturing, with operational, installation and capital costs decreasing  accordingly with scale. Recommendation: increase public support to the private sector to lower minigrid costs further and accelerate private investment into energy access minigrids.
• Better service than the central grid: minigrid service level averages 99.1% from the generation source. This is much higher than utilities, which for example in Zambia is only 72%. Recommendation: fully incorporate service quality as a metric in national electrification planning, and leverage minigrids to ensure reliable and quality electricity supply to rural communities.
• Regulations are stunting minigrid sector growth: energy regulations have historically been designed for small numbers of large projects, not a large number of small projects such as minigrids. This has resulted in average approval times per site for minigrids of more than 52 weeks, which if left unchanged will not allow Africa to achieve universal energy access on an acceptable timescale. Recommendation: digitize, modernize and otherwise streamline regulatory compliance and permitting using 21st century technologies to facilitate bulk minigrid project approval in a more timely fashion.
• Revenues per customer remain low:just like historical rural electrification efforts globally, and rural electrification through national utilities in Africa today, minigrid average revenues per user (ARPU) remain low, at under $5.00 average across all customer categories on the continent, including households and small businesses. Recommendation: increase efforts to economically empower minigrid customers and to increase demand by focusing on productive use applications.
• Public funding is key to unlocking private capital: the report shows that access to concessional finance is directly linked to radical increases in access to additional private capital for minigrid developers, and to increases in connection numbers. Recommendation: greatly increase the size, reliability and geographic scope of public financial support to bring the sector to scale across Africa, not in individual countries as is current practice.

“The Minigrid sector in Africa is beginning to scale up, and that means the beginning of a potentially transformational moment for rural African communities is at hand — if fair and effective financial, commercial and policy solutions are in place for the sector to continue on its current trajectory,” said AMDA CEO Aaron Leopold. “It is now clearer than ever that the sector is maturing, with costs dropping and service improving as investment increases. It is therefore fundamental for developers, donors and national governments to work together to continue to scale up the minigrid sector, while at the same time empowering customers to increase productive energy use that can bring economic benefits to rural communities. Only then can we achieve a financially viable and sustainable operating environment for minigrid companies.”

The AMDA report will be updated on a regular basis, providing high-quality data to decision makers in government and finance to make more informed and effective plans for achieving universal electrification, powering economic growth and enabling rural health and education services.

Developers operating in the following countries participated in the inaugural benchmarking report: Benin, Cameroon, Democratic Republic of Congo, Kenya, Madagascar, Mali, Mauritania, Nigeria, Sierra Leone, Tanzania, Togo and Zambia.

The Full report is available for download here.

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About Africa Minigrids Developers Association (AMDA): AMDA is an industry association created by private sector minigrid developers and operators, donors and investors seeking to improve market conditions for minigrid companies. This includes working to improve policy, regulation and investment towards ending energy poverty by 2030 as part of the Sustainable Development Goals. Today, AMDA represents over 30 companies, who are operating minigrids across 12 countries.

12 August 2020: Energy+, a Malian-owned and -managed off-grid solar company with a mission of delivering affordable and reliable energy to off-grid households, announced today it received more than US$1 million in commitments from a consortium of financing partners. The funding includes equity and fully funded enterprise development services (EDS) from VentureBuilder, which led the round, debt from Cordaid Investment Management (Cordaid), and grant financing from the United States African Development Foundation (USADF).

Mali is one of the most populous nations in West Africa, with 60 percent of its 20 million people still living without access to modern electricity services. The financing package announced today will enable Energy+ to scale its off-grid business throughout the country through the expansion of its pay-as-you-go and cash sales offerings via its retail network. The financing secured from VentureBuilder, Cordaid and USADF arrives at a critical stage for Energy+, which is well-positioned to leverage its deep experience in Mali to navigate the challenges presented by the COVID-19 pandemic while also delivering life-changing electricity services to underserved areas of the country.

“In countries such as ours, pay-as-you-go is the best way to bring quality solar home systems to off-grid areas because it makes energy access easy and affordable. With the help of VentureBuilder, Cordaid and USADF, we will be in a position to transition, in a strategic manner, from a producer of small electrical batteries to a large scale distributor of high-quality solar products,” according to Simballa Sylla, CEO of Energy+.

“Energy+ brings a powerful combination of remarkable execution capability alongside decades of market experience,” said Dan Murphy, Managing Director of VentureBuilder. “With our financing and advisory support, we’re confident the Energy+ team is well positioned to mitigate the downside risks associated with the COVID-19 pandemic and to blend their unique local market knowledge with international good practice.”

“Energy+ is an exciting addition to our growing Malian SME portfolio.  Energy+ will create jobs and bring clean energy where it is most needed, and the experienced promoters have shown that they can deliver despite a very challenging market. We look forward to a long-term partnership with Energy+ to finance their continuing growth, and in doing so meet our social impact ambitions in Mali and the region,” shared Hann Verheijen, Managing Director of Cordaid.

C.D. Glin, President and CEO of USADF, added, "We are proud to support Energy+ alongside VentureBuilder and Cordaid. Our investment in Energy+ is aligned with USADF's mandate to support African off-grid energy enterprises to help them grow, overcome the many hurdles they may face as entrepreneurs, and reach underserved communities in Africa. In Mali, as part of our efforts in the region through USADF’s Sahel-Horn Off-grid Energy Challenge, we look forward to helping Energy+ increase access to electricity and support the digitization of the off-grid sector through pay-as-go systems."

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About Energy+: Energy+ is the exclusive importer, distributor, and reseller of d.light off-grid solar (OGS) products in Mali. The company made its first product sales in March 2019, leveraging 25 years of market experience and the national retail network of Omnium Mali, Energy+’s sister company. To date, Energy+ has sold thousands of OGS products on a cash and pay-as-you-go basis throughout Mali.

About VentureBuilder: VentureBuilder (VB) provides flexible, long-term early-stage financing as well as Enterprise Development Services (EDS) to African-owned and managed distribution enterprises. VB will catalyze a new generation of businesses that deliver affordable, reliable, and sustainable electricity access across Africa. VB, co-developed by Catalyst Off-Grid Advisors and Open Capital Advisors since 2017, leverages both companies’ decades of experience in building, advising, and financing off-grid solar companies. The development phase was made possible with support from Facebook, who committed additional financing alongside the DOEN Foundation, Shell Foundation, Good Energies Foundation, and USAID for VB’s implementation phase. To learn more, visit www.venture-builder.com.

About Cordaid Investment Management (CIM): A pioneer debt investor in fragile markets since 1998, CIM invests in decent job creation, sustainable economic development and building resilient communities. CIM offers patient capital to small and medium enterprises with potential to grow but lacking access to finance. CIM also invests in microfinance institutions that offer inclusive finance to micro entrepreneurs that have limited or no alternatives. With EUR 77 million of AuM, CIM has a professional investment team of 20 persons who have earned their stripes in the world of banking and development aid. CIM is currently active in 20 developing countries in Africa, Asia and Latin America. CIM targets EUR 40 million of new investments in West Africa in the next 5 years.  Cordaid Investment Management B.V. (CIM), is a private company with limited liability, incorporated under the laws of the Netherlands.

About the United States African Development Foundation (USADF): The U.S. African Development Foundation (USADF) is an independent U.S. government agency established by Congress to invest in African grassroots organizations, entrepreneurs, and small- and medium-sized enterprises. USADF's investments promote local economic development by increasing incomes, revenues, and jobs, and creating pathways to prosperity for marginalized populations and underserved communities. Utilizing a community-led development approach, USADF provides seed capital and local project management assistance to improve lives and impact livelihoods while addressing some of Africa's most significant challenges around food insecurity, insufficient energy access, and unemployment, particularly among women and youth. Over the last five years, throughout Africa, with an emphasis on the Horn, Sahel, and Great Lakes regions, USADF has invested more than $115 million directly into over 1000 African-owned and operated entities and impacted over four million lives.

6 August 2020: The investment is specifically in Standard Microgrid’s Zambia operating company. The funding will help Standard Microgrid scale its operations in Zambia to serve clean, low-carbon reliable power to more than 130,000 Zambians from underserved communities lacking access to electricity.

Of the world’s 7.6 billion people, more than 1.2 billion lack access to electricity, and 600 million are in Sub-Saharan Africa. In Zambia, 12 million out of 18 million lack power. Standard Microgrid has been one of the pioneers of Africa’s microgrid sector, using an innovative “energy-as-a-service” model to provide clean 24/7 power to rural customers, without requiring diesel back-up or the use of fossil fuels. The company currently serves power to more than 7,000 in Zambia across 11 microgrids, and is busy scaling a 150-microgrid portfolio that will bring power to ~130,000 Zambians in the coming years. It is also a founding member of the Zambia Chapter of the Africa Minigrid Developers Association.

EDF’s investment in Standard Microgrid cements its leadership position in off-grid electrification and marks the Group’s very first investment in a microgrid operator. With this transaction, EDF expands its foothold to the Zambian market which complements the company’s existing positions in solar home systems and solar irrigation in Togo, Cote D’Ivoire, Ghana, South Africa, Senegal, and Kenya. Now with active positions in each of the three methods of electrifying the unelectrified -- main grid, microgrid, and solar home systems -- EDF has a hand in the full suite of rural electrification solutions.

Brian Somers, CEO of Standard Microgrid, comments: “EDF has been in the power business for more than 70 years, and with more than 160,000 employees and a strong footprint in Africa market, EDF represents the perfect partner to support Standard Microgrid’s ambitions. Scalability and replicability are essential to durably changing rural electrification outcomes; we believe that Standard Microgrid’s remotely operated and locally managed platform is well adapted to such scale, and we look forward to working with EDF to continue to bring productive, clean, reliable power to rural Zambia and beyond.”

Xavier Rouland, EDF’s Off-Grid Department Director, comments: “EDF is very happy to invest in such a leading and innovative microgrid company. With SMG, EDF is now able to offer a full range of solutions for the key challenge of rural electrification in Africa. This demonstrates once again EDF’s commitment to develop low-carbon energy for Africa, from large powerplants and utility scale IPPs to solar off-grid solutions for residential customers. This is also a first achievement for EDF in Zambia and our ambition is to announce as soon as possible various other projects that we are currently working on in the country, especially in the hydropower and solar fields.”

Standard Microgrid used Shearman & Sterling for legal services and Stadia Capital Advisory as transaction financial advisor. EDF used Gide Loyrette Nouel and Musa for legal services.

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About Standard Microgrid: Standard Microgrid is a solar microgrid developer focused on providing advanced energy services to Africa’s rural poor. It has offices in Lusaka, Zambia and Johannesburg, South Africa, and relies on an energy-as-a-service model to enforce energy efficiency and deliver high-value, low-cost power to customers together with around-the-clock power availability without reliance on fossil fuels. Standard Microgrid’s partners include the Swedish International Development Agency, the DOEN Foundation, US Trade and Development Agency, USAID, and Microsoft.

About EDF: A key player in energy transition, the EDF Group is an integrated electricity company, active in all areas of the business: generation, transmission, distribution, energy supply and trading, energy services. A global leader in low-carbon energies, the Group has developed a diversified generation mix based on nuclear power, hydropower, new renewable energies and thermal energy. The Group is involved in supplying energy and services to approximately 38.9 million customers, 28.8 million of which are in France. It generated consolidated sales of €71 billion in 2019. EDF is listed on the Paris Stock Exchange. 

31 July 2020: Equator Energy, the largest owner and operator of B2B solar power plants in East Africa, reports a successful first quarter of solar power generation in Puntland, Somalia, delivering cleaner, cheaper electricity to domestic and industrial consumers.

In March 2020, Equator commissioned two solar power plants totalling 1.6 MW of installed solar capacity. These run in parallel to diesel generators and are located in two major cities in Puntland. Both systems are fully financed and owned by Equator, operating under power purchase agreements with Puntland’s largest privately-owned independent power producer (IPP), Ente Nazionale Energia Electrica (ENEE).

Each plant replaces 25 % of the cities’ power requirement with cheaper, cleaner solar energy. Together, the systems save 7,000 tonnes of CO2 per year, equivalent to the per capita annual emissions of ca. 27,000 people in sub-Saharan Africa. With the cost of diesel-generated electricity in Puntland currently between 0.40 - 0.80 USD per kWh, cheaper solar power also allows ENEE to reduce tariffs. Further savings also allow for investment in upgrading and expansion of the grid network, fuelling regional economic growth.

“Thanks to Equator’s investment-free service, we have been able to benefit from solar savings without having to divert capital away from developing our grid infrastructure,” says ENEE CFO Bashir Muse. “We are now less reliant on diesel and are pleased to see that our generators are requiring less maintenance. Equator has also enabled our technical team to gain much needed experience in solar technology, as well as providing continuous remote support to our staff. We hope that cleaner and cheaper solar energy will help us expand our customer base and enable our local economy to continue growing.”

The plants are designed, financed, constructed, operated and maintained by Equator, who have a diversified portfolio of grid-tied, diesel-hybrid and off-grid solar power plants across Africa. Equator’s fully-financed business model means clients avoid the significant up-front costs of solar, while still benefitting from cheaper, cleaner solar energy in the long-term.

This project is Equator’s first operation in Puntland, a state in the north-east of Somalia with a population of 3.5m people. The region has one of the highest daily averages of solar radiation in the world yet relies almost entirely on diesel-powered electricity generation; the Puntland government estimates that over 100,000 litres of imported diesel fuel are burned every day. The cost of fuel makes up c60% of power providers’ revenues, making reinvestment into more efficient, sustainable systems very difficult. 

In addition to the environmental cost, many IPPs operate inefficient systems, with poor-quality infrastructure. Along with a lack of scaled, interconnected grids, this leads to substantial distribution losses of up to 40% - nearly four times higher than the average rate of loss across African countries.

“This project was our first in the region and we are delighted with how smoothly it has progressed,“ says, Sebastian Noethlichs, CEO Equator. “Once our equipment was on site, the two modular installations took our team just under three weeks to complete. Puntland is an extremely exciting market for Equator Energy. With such compelling solar yield and widespread use of expensive diesel generated power, solar can deliver exceptional financial and environmental savings to companies like ENEE. We are excited about expanding our footprint with ENEE as they continue to grow in the years to come.”

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Equator is a privately owned, fully integrated developer, investor and operator of solar power plants, specialising in emerging and frontier markets. Based in Nairobi, Equator operates and develops grid-, diesel- and battery-tied solar power plants throughout Africa. It currently owns and operates over 10 MW of solar projects across more than 25 projects in four countries.

Equator is a joint venture between two companies: Maris and Nvision Energy. Maris is an investment holding company with more than 100m USD under management, focused on sub-Saharan Africa. Nvision.Energy is a solar developer and EPC, with more than a decade of experience delivering solar projects across Europe and Africa. 

28 July 2020: Millions of people, small holders and entrepreneurs in remote villages across Uganda are set to access reliable and cheap electricity for the first time under a new off-grid solar scheme agreed between ENGIE, through its Solar Home System company Fenix International and the European Investment Bank, one of the world’s largest financiers of renewable energy.

“Access to affordable and clean energy is important to fight poverty, create jobs and empower women and girls. The European Investment Bank is pleased to agree new support for scaling up off-grid solar deployment in East Africa under this new partnership with ENGIE.  Over a million people across Uganda will be able to access electricity for the first time that will power communications, provide light and make cooking easier. This scheme will also reduce use of kerosene, charcoal and candles to help families save money, reduce pollution and reduce the risk of accidents. Unlocking sustainable economic and social development through off-grid solar is key for Africa’s future and the EIB is pleased to back this project in Uganda.” said Ambroise Fayolle, European Investment Bank Vice President.

“At ENGIE, we see the massive potential of the off-grid electrification sector as a way to bridge energy gaps across Africa, faster and more affordably. Every day families across Africa are able to access electricity for the first time using off-grid solar technology provided by ENGIE Africa. Our new partnership with the European Investment Bank in Uganda will allow Fenix to provide ultra-affordable PAYGO systems to millions of people in villages across the country. This will provide access to clean solar power and financial empowerment. Providing access to energy in Africa is a huge undertaking but I firmly believe that universal access to energy is achievable in the foreseeable future, through smart investments in a combination of national grid extension, solar home systems and mini-grids. With our off-grid platform, we are industrializing and scaling up the development of a wide range of decentralized solutions, with a sustainable business model.  As of now, ENGIE is providing decentralized electricity to more than 4.5 million people in 9 countries through solar home systems from both Fenix and ENGIE Mobisol, as well as mini-grids from ENGIE PowerCorner.” said Yoven Moorooven, CEO of ENGIE Africa.

The European Investment Bank has agreed to provide a USD 12.5 million loan to support the deployment of 240,000 high-quality solar home systems in Uganda  by Fenix International, a subsidiary of ENGIE.

Solving the last mile challenge to provide power in remote communities across Uganda

Only one in five Ugandans living in remote and rural communities has access to reliable electricity. By scaling up adoption of off-grid solar technology this new initiative will provide economic, social, education and health opportunities for families and entrepreneurs who cannot be connected to the national electricity network.

Customers will also be able to benefit from Fenix International’s service centres that provide support in 30 languages across Uganda.

Supporting private sector growth and sustainable development in Uganda

Following the new agreement between Fenix and the European Investment Bank households, entrepreneurs and small holders across Uganda will be able to access electricity for mobile phones, solar lighting, refrigeration, radio and television. This will help farmers to sell produce, create new markets for traders and improve health.

Increased provision of reliable and affordable energy will create new opportunities for women and girls and reduce exposure to indoor pollution from current kerosene use.

“The European Union is committed to supporting sustainable economic and social development across Uganda. This new cooperation initiative between the European Investment Bank and Fenix International, a subsidiary of leading European energy company ENGIE, demonstrates the value-added of European engagement with Ugandan partners to advance the country's development vision. Harnessing renewable energy through innovative off-grid solar technology, combined with productive uses of power in rural areas, is a direct demonstration of the European Union’s green deal for Africa, providing new opportunities for millions of Ugandans.” said Attilio Pacifici, European Union Ambassador to Uganda.

Unlocking financial empowerment and overcoming currency barriers

Provision of a PAYGO model will allow families who would be unable to afford the upfront costs of solar home systems to repay the cost of equipment over years at less than USD 20 cents a day. The new European Investment Bank financing will also allow repayment of equipment purchased in US dollars in Ugandan shillings. Previously currency fluctuations hindered provision of affordable clean energy solutions to Ugandans without access to foreign currency.

“Providing hundreds of thousands of new solar home systems through the PAYGO model will allow our Ugandan team to transform communities across the country. We are proud to be the latest national off-grid power operation to be supported by the European Investment Bank and we will work tirelessly to illuminate homes and provide clean power until all of Uganda can access electricity.” said Daniel Willette, Managing Director Uganda (Fenix)

Customers will also benefit from cheaper costs and easier repayment through use of mobile banking. This will also provide other financial products and allow customers to expand existing equipment as needed.  

Building on the EIB’s renewable energy track record in Uganda and across Africa

Over the last decade the European Investment Bank has provided more than EUR 5.4 billion for clean energy investment across Africa.

In recent years the European Investment Bank has been a leading financial for the Bujagali hydropower project in Uganda, the Lake Turkana Wind Farm, Olkaria Geothermal plant and the Radiant and Eldosol solar schemes, as well as financing last mile connections in Kenya. The EIB is also supporting studies to harness hydropower to transform clean energy in Burundi and the Great Lakes region. 

ENGIE is the largest independent electricity producer in the world, and one of the major players in natural gas and energy services. The Group has more than 50 years of experience on the African continent and has the unique ability to implement integrated solutions all along the energy value chain, from centralized electricity production to off-grid solutions (solar home systems, mini-grids) and energy services. ENGIE Africa employs nearly 4,000 people, and has 3.15 GW of power generation capacity in operation or construction.  It is a leader in the decentralized energy market, providing clean energy to more than 4.5 million people through domestic solar installations and local microgrids.